2014-02-11T12:53:11-06:00 2013-06-30 131517563 LOEB & TROPER LLP 655 THIRD AVENUE 12TH FLOOR NEW YORK NY 10017 990 2012-07-01 132709368 THE BRONX MUSEUM OF THE ARTS BRON 7186816000 1040 GRAND CONCOURSE BRONX NY 10456 HOLLY BLOCK 7186816000 2014-01-28 1 FREDERICK H ROTHMAN P01275277 2128674000 2012 2015-11-30 17:44:51Z HOLLY BLOCK 1040 GRAND CONCOURSE BRONX NY 10456 6329196 0 X WWW/BRONXMUSEUM.ORG X 1971 NY SEE SCHEDULE O THE BRONX MUSEUM OF THE ARTS IS A CONTEMPORARY ART MUSEUM THAT CONNECTS DIVERSE AUDIENCES TO THE URBAN EXPERIENCE THROUGH ITS PERMANENT COLLECTION, SPECIAL EXHIBITIONS, AND EDUCATION PROGRAMS. REFLECTING THE BOROUGH'S DYNAMIC COMMUNITIES, THE MUSEUM IS THE CROSSROAD WHERE ARTISTS, LOCAL RESIDENTS, NATIONAL AND INTERNATIONAL VISITORS MEET. 25 24 28 24 0 0 3964309 4460486 22413 10682 3889 260774 443219 42609 4433830 4774551 0 0 0 0 1336835 1741040 38660 0 316693 1767663 3529766 3143158 5270806 1290672 -496255 4580290 2849292 1417749 183006 3162541 2666286 X THE BRONX MUSEUM OF THE ARTS IS A CONTEMPORARY ART MUSEUM THAT CONNECTS DIVERSE AUDIENCES TO THE URBAN EXPERIENCE THROUGH ITS PERMANENT COLLECTION, SPECIAL EXHIBITIONS, EDUCATION PROGRAMS, AND PUBLIC AND COMMUNITY PROGRAMMING AND OUTREACH ACTIVITIES. REFLECTING THE BOROUGHS DYNAMIC COMMUNITIES, THE MUSEUM IS THE CROSSROAD WHERE ARTISTS, LOCAL RESIDENTS, NATIONAL AND INTERNATIONAL VISITORS MEET IN THE BRONX. 0 0 4695369 21179 DURING FISCAL YEAR 2013, THE MUSEUM PRESENTED THE FOLLOWING EXHIBITIONS: URBAN ARCHIVES: THE RITUALS OF CHAOS; BRONX LAB: STYLE WARS; REVOLUTION NOT TELEVISED; VALERIE CAPERS: A PORTRAIT; JOAN SEMMEL: A LUCID EYE; HONEY, I REARRANGED THE COLLECTION; STATE OF MIND: NEW CALIFORNIA ART CIRCA 1970; BRONX CALLING: THE SECOND AIM BIENNIAL AND SOLACE ON THE LINE: PHOTOGRAPHS BY TODD HEISLER. FOLLOWING ITS APPOINTMENT IN 2012 AS THE HOST INSTITUTION FOR THE US PAVILLION, THE MUSEUM ALSO ORGANIZED AND PRESENTED THE WORK OF SARA SZE AT THE U.S. PAVILION AT LA BIENNALE DI VENEZIA, THE 55TH INTERNATIONAL ART EXHIBITION IN VENICE, ITALY. A FEATURE OF THE MUSEUM'S BIENNALE PROGRAMMING WERE THE SPECIAL EDUCATION PROGRAMS THAT THE MUSEUM PIONEERED WHICH INVOLVED HIGH SCHOOL STUDENTS IN THE BRONX AND VENICE. ALL OF THE MUSEUMS EXHIBITIONS WERE ACCOMPANIED BY GALLERY TOURS, ARTIST TALKS, PERFORMANCES, AND FILM AND VIDEO SCREENINGS. ONGOING EDUCATION PROGRAMS INCLUDED THE GROUP VISITS PROGRAM; FAMILY AFFAIR; SCHOOL PARTNERSHIPS WITH PS 73 AND IS 218; AND AFTER-SCHOOL PROGRAMS SUCH AS TEEN COUNCIL AND THE CASA PROGRAM WITH PS 73. 4695369 1 1 0 0 0 0 0 1 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 60 0 28 1 0 0 0 0 0 1 1 1 53 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X HOLLY BLOCK 7186816000 1040 GRAND CONCOURSE BRONX NY 10456 DON SAVELSON 4.00 X X 0 0 0 ELLIOT BROWNSTEIN 2.00 X X 0 0 0 LAURA BLANCO 3.00 X X 0 0 0 MARILYN GREENE 3.00 X X 0 0 0 ALESSANDRA DIGUSTO 1.00 X X 0 0 0 DR RAE ALEXANDER-MINTER 1.00 X 0 0 0 SIGMUND BALKA 1.00 X 0 0 0 LINDA BLUMBERG 1.00 X 0 0 0 VICTORIA CABANOS 1.00 X 0 0 0 OLIVIA DOUGLAS 1.00 X 0 0 0 JOYCE HOGI 1.00 X 0 0 0 JEANNA HUSSEY 1.00 X 0 0 0 ALICE KOSMIN 1.00 X 0 0 0 JOAN KREVLIN 1.00 X 0 0 0 MARY BETH MANDANDAS 1.00 X 0 0 0 CORMAC MCENERY 1.00 X 0 0 0 JOSEPH MIZZI 1.00 X 0 0 0 NATHAN NEWMAN 1.00 X 0 0 0 IFEOMA OKORONKWO AITKENHEAD 1.00 X 0 0 0 JONATHAN PLOTKIN 1.00 X 0 0 0 TIM ROLLINS 1.00 X 0 0 0 RUTH CORN ROTH 1.00 X 0 0 0 MANON SLOME 1.00 X 0 0 0 JOSHUA STEIN 1.00 X 0 0 0 HOLLY BLOCK 40.00 X X 220891 0 7251 ALAN HIGHET 40.00 X 105540 0 20903 326431 0 28154 2 0 1 0 0 511949 1128943 2819594 217300 4460486 EDUCATION TUITION 611710 10682 10682 10682 4872 4872 160799 30030 130769 130769 130769 1255902 1000000 255902 255902 255902 425958 511949 524615 -98657 -98657 10497 10497 10497 4774551 21179 0 292886 X 348679 197999 91530 59150 1053764 889292 29929 134543 245326 199464 20513 25349 93271 76667 7607 8997 27250 27250 1476460 1451640 3150 21670 174719 173756 963 569771 512673 25858 31240 34066 29653 2397 2016 84126 73229 5920 4977 276705 249341 21648 5716 50095 43606 3525 2964 63360 55152 4459 3749 CURATORIAL, EXHIBITION, 679504 665566 13938 TEMP HELP 93710 77331 14958 1421 5270806 4695369 258744 316693 194210 142231 1621650 1584939 649000 115000 84790 34710 13387 10254 2443108 1480950 2012253 962158 5000 4580290 2849292 152124 140456 42550 1265625 1417749 183006 X 1200395 1625136 1962146 1041150 3162541 2666286 4580290 2849292 -496255 0 X X 0 1 X 1 0 X 2113508 2266834 2554261 3964309 4460486 15359398 2113508 2266834 2554261 3964309 4460486 15359398 778652 14580746 63173 47344 108677 134381 165671 519246 209057 209057 65000 103670 10497 179167 16266868 195134 0.89630 0.88650 X SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: PART II, LINE 10, OTHER INCOME: EXHIBITION LOAN FEES AND MISCELLANEOUS INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 601038 601038 250000 250000 0 430860 366200 64660 1161210 864750 296460 962158 X 4811158 262479 30030 292509 4518649 255902 255902 4774551 5563315 262479 30030 292509 5270806 0 5270806 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE MUSEUM HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PERIODS ENDING JUNE 30, 2010 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 30,030. PART XI, LINE 4B - OTHER ADJUSTMENTS: FORGIVENESS OF DEBT 255,902. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 30,030. PART III, LINE 1A: THE MUSEUM COLLECTS AND MAINTAINS A PERMANENT COLLECTION OF 20TH AND 21ST CENTURY ARTWORKS BY ARTISTS OF AFRICAN, ASIAN AND LATIN AMERICAN DESCENT, AS WELL AS BY ARTISTS FOR WHOM THE BRONX HAS BEEN CRITICAL TO THEIR ARTISTIC PRACTICE AND DEVELOPMENT. THE MUSEUM'S REGISTRAR MAINTAINS A DESCRIPTION OF THE CONTENTS OF THE PERMANENT COLLECTION. THE COLLECTION IS INSURED FOR $4.5 MILLION, PLUS $4.5 MILLION FOR ITEMS IN TRANSIT OR ON LOAN AT OTHER LOCATIONS. THE VALUE OF THE COLLECTION, WHICH WAS ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION, IS NOT REFLECTED AS AN ASSET ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE EXPENSED IN THE YEAR OF ACQUISITION. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENT OF ACTIVITIES. DONATED ARTWORK(S) SOLD AT THE MUSEUM'S ANNUAL BENEFIT ART AUCTION ARE RECORDED AT THE AUCTION SALES PRICE(S). PART III, LINE 4: THE MUSEUM COLLECTS AND MAINTAINS A PERMANENT COLLECTION OF 20TH AND 21ST CENTURY WORKS BY ARTISTS OF AFRICAN, ASIAN, AND LATIN AMERICAN DESCENT, AS WELL AS BY ARTISTS FOR WHOM THE BRONX HAS BEEN CRITICAL TO THEIR ARTISTIC PRACTICE AND DEVELOPMENT. THE MUSEUM'S REGISTRAR MAINTAINS A DESCRIPTION OF THE CONTENTS OF THE PERMANENT COLLECTION. THE COLLECTION IS INSURED FOR $4.5 MILLION, PLUS $4.5 MILLION FOR ITEMS IN TRANSIT OR ON LOAN AT OTHER LOCATIONS. THE VALUE OF THE COLLECTION, WHICH WAS ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION, IS NOT REFLECTED AS AN ASSET ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE EXPENSED IN THE YEAR OF ACQUISITION. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENT OF ACTIVITIES. DONATED ARTWORK(S) SOLD AT THE MUSEUM'S ANNUAL BENEFIT ART AUCTION ARE RECORDED AT THE AUCTION SALES PRICE(S). THE COLLECTION IS HELD FOR PUBLIC SERVICE RATHER THAN FINANCIAL GAIN, PROTECTED AND PRESERVED, AND SUBJECT TO AN ORGANIZATIONAL POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF SUCH ITEMS TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. X X X X X X X 1 LIVET REICHARD COMPANY INC 306 WEST 38 ST 701 NEW YORK NY 10018 BENEFIT/GALA PLANNER 1 654204 43054 611150 654204 43054 611150 NY CT NJ ANNUAL GALA BENEFIT 654204 418409 235795 62087 277204 STUDY TOUR 267203 87000 180203 175492 2 16500 6540 9960 9832 937907 511949 425958 62087 462528 524615 -98657 X X X X X 0 0 0 0 0 0 0 0 0 HOLLY BLOCK 220891 0 0 0 0 0 2209 0 5042 0 228142 0 0 0 X 53 174940 SALES PRICES 53 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTIONS: PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION B, LINE 11 DRAFTS OF THE 990 ARE PRESENTED TO ALL BOARD MEMBERS FOR REVIEW AND COMMENT. PRIOR TO THIS, THE EXECUTIVE DIRECTOR AND FINANCE DIRECTOR REVIEW THE FORM 990. THE FINAL FILING IS SUBMITTED TO THE FINANCE COMMITTEE FOR DETAILED REVIEW AND APPROVAL AND THEN CIRCULATED TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C A DISCLOSURE STATEMENT IS REQUIRED TO BE COMPLETED ANNUALLY BY ALL TRUSTEES. IF THE BOARD OF TRUSTEES DETERMINES THAT AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST WAS NOT DISCLOSED, A CORRECTIVE ACTION IS TAKEN. THERE WERE NO INSTANCES OF CONFLICT OF INTEREST MANAGEMENT IN THE MUSEUM IN 2013. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION WAS BASED ON A 2012 REVIEW OF COMPARABLE INSTITUTIONS AND PAST WAGES FOR THE SIMILAR POSITION FORM 990, PART VI, SECTION C, LINE 19 COPIES ARE PROVIDED ON REQUEST AND/OR ARE AVAILABLE FOR REVIEW AT THE MUSEUM. OTHER FEES FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 281,768. MANAGEMENT AND GENERAL EXPENSES 3,150. FUNDRAISING EXPENSES 19,758. TOTAL EXPENSES 304,676. ARTISTIC FEES: PROGRAM SERVICE EXPENSES 1,046,293. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 750. TOTAL EXPENSES 1,047,043. TECHNICAL FEES: PROGRAM SERVICE EXPENSES 24,948. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 1,162. TOTAL EXPENSES 26,110. INSTRUCTORS: PROGRAM SERVICE EXPENSES 98,631. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 98,631. FORM 990, PART XII, LINE 2C NO CHANGE FROM PREVIOUS YEAR NOTES TO THE BRONX MUSEUM OF THE ARTS 2013 FEDERAL 990 TAX FILING THE PRESENTATION OF THE MUSEUM'S FISCAL 2013 AUDITED FINANCIAL STATEMENTS AND FEDERAL 990 TAX FILING IS IMPACTED BY TWO NON-RECURRING ISSUES. FIRST, A ONE-TIME GAIN ON THE DISPOSAL OF PROPERTY LOCATED AT 1057 CARROLL PLACE, IN CONNECTION WITH THE FORGIVENESS OF THE OUTSTANDING PRINCIPAL AND ACCRUED INTEREST ON THE BRONX OVERALL ECONOMIC DEVELOPMENT CORPORATION'S $1,000,000 LOAN TO THE MUSEUM. THE LOAN, WHICH WAS ADVANCED IN MARCH 2007 TO FUND THE PURCHASE OF PROPERTY, HAD A TOTAL OUTSTANDING BALANCE OF $1,265,625 AT THE DATE OF THE LOAN'S RESTRUCTURE AND FORGIVENESS (JUNE 2013). THIS TRANSACTION RESULTED IN A NON-RECURRING, NON-CASH, CAPITAL GAIN OF $255, 902 WHICH IS SHOWN AS AN EXTRAORDINARY GAIN IN THE AUDITED STATEMENT OF ACTIVITIES. (REFER NOTE 4 TO THE AUDITED FINANCIAL STATEMENTS.) SECOND, A SIGNIFICANT TIMING MISMATCH IN THE DATE THAT CERTAIN TEMPORARILY RESTRICTED GRANT REVENUE ITEMS WERE CONFIRMED AND RECORDED IN FISCAL 2012 AND THE DATE THAT THESE RESTRICTED FUNDS WERE EXPENDED IN FISCAL 2013. IN FISCAL 2012, THE MUSEUM'S YEAR-END TEMPORARILY RESTRICTED FUNDS BALANCE WAS POSITIVELY IMPACTED BY THE RETENTION OF OVER $1,000,000 OF RESTRICTED GRANTS IN SUPPORT OF THE VENICE BIENNALE AND THE MUSEUM'S PERMANENT COLLECTION ACQUISITIONS PROGRAM. PROGRAMMING AND THEREFORE THE EXPENDITURE ASSOCIATED WITH THESE TWO PROGRAMS WAS CONCENTRATED IN FISCAL 2013. ACCORDINGLY, THESE RESTRICTED FUNDS WERE EXPENDED IN FISCAL 2013, CONSISTENT WITH THE TIMING OF BOTH PROGRAMS AND THE TERMS OF THE GRANTS. THIS RESULTED IN A SUBSTANTIAL, NON-RECURRING INCREASE IN THE MUSEUM'S YEAR-END TEMPORARILY RESTRICTED FUNDS BALANCE IN 2012 (FROM $812,500 IN FISCAL 2011 TO $1,962,146 IN FISCAL 2012.) THIS ALSO RESULTED IN A SUBSTANTIALLY HIGHER CONSOLIDATED SURPLUS IN FISCAL 2012 THAN IN PRIOR YEARS. (A CONSOLIDATED SURPLUS OF $1,290,672 WAS RECORDED IN FISCAL 2012, IN COMPARISON TO $258,967 IN FISCAL 2011 AND $165,113 IN FISCAL 2010.) THESE TIMING DIFFERENCES ALSO HAD AN ADVERSE NON-RECURRING IMPACT ON THE MUSEUM'S TEMPORARILY RESTRICTED FUNDS BALANCE, AND CONSOLIDATED REVENUE AND EXPENDITURE RESULTS, IN FISCAL 2013. EXPENDITURE IN 2013 WAS SIGNIFICANTLY HIGHER AND NEW TEMPORARY RESTRICTED FUND INFLOWS WERE COMMENSURATELY LOWER. FISCAL YEAR-END TEMPORARY RESTRICTED FUNDS DECREASED TO $1,041,150 IN 2013 FROM $1,962,146 IN FISCAL 2012 DUE TO THE HIGHER AMOUNT OF TEMPORARILY RESTRICTED FUNDS RELEASED AND EXPENDED DURING THE YEAR (THE $1,000,000 OF VENICE BIENNALE AND PERMANENT COLLECTION RESTRICTED GRANTS): $1,486,646 WAS RELEASED IN 2013 COMPARED TO $615,000 IN 2012. NEW TEMPORARY RESTRICTED FUND INFLOWS ALSO DECREASED IN FISCAL 2013 DUE TO THE NON-RECURRING NATURE OF THE VENICE BIENNALE AND THE PERMANENT COLLECTION ACQUISITION PROGRAM FROM $1,746,646 IN FISCAL 2012 TO $565,650 IN 2012. THE COMBINED IMPACT OF THESE TIMING DIFFERENCES RESULTED IN A CONSOLIDATED DEFICIT OF $496, 255 IN FISCAL 2013. THIS IS ATTRIBUTABLE TO THE REVENUE AND EXPENDITURE TIMING DIFFERENCES DISCUSSED ABOVE AND THE IMPACT THIS HAD ON THE MUSEUM'S TEMPORARILY RESTRICTED FUNDS BALANCE. IN TERMS OF UNRESTRICTED FUNDS AND THE MUSEUM'S OPERATING BUDGET, THE MUSEUM HAS RECORDED AN OPERATING SURPLUS SINCE FISCAL 2009. IN FISCAL 2013, THE MUSEUM RECORDED AN OPERATING SURPLUS OF $424,741 ($168,839 EXCLUDING THE GAIN ON DISPOSAL OF PROPERTY).